Capital World Correlations

CCWEX Fund

USD 16.23 0.08 0.49%

The current 90-days correlation between Capital World Bond and Barings High Yield is 0.17 (i.e., Average diversification). The correlation of Capital World is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Capital World Correlation With Market

Significant diversification

The correlation between Capital World Bond and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Capital World Bond and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Capital World Bond. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Capital Mutual Fund

0.61	AMECX	Income Fund	Pair Corr
0.82	FPPPX	American Funds Prese	Pair Corr
0.65	AMEFX	Income Fund	Pair Corr
0.62	RNGGX	New Economy Fund	Pair Corr
0.66	RNGFX	New Economy Fund	Pair Corr
0.62	RNGHX	New Economy Fund	Pair Corr
0.62	RNGBX	New Economy Fund	Pair Corr
0.66	RNGAX	New Economy Fund	Pair Corr
0.66	RNGEX	New Economy Fund	Pair Corr
0.61	TEAFX	Tax Exempt Bond	Pair Corr
0.62	AMPCX	Amcap Fund Class	Pair Corr
0.64	AMRMX	American Mutual	Pair Corr
0.66	AMRFX	American Mutual	Pair Corr
0.84	AMUSX	Us Government Securities	Pair Corr
0.67	TEPCX	American Funds Tax	Pair Corr
0.68	TEPFX	American Funds Tax	Pair Corr
0.63	RNWGX	New World Fund	Pair Corr

Related Correlations Analysis

	BXHCX	ABNTX	TTRBX	BBINX	GHVIX	ARTFX	RULFX
BXHCX		0.83	0.95	0.95	0.99	1.0	0.94	BXHCX
ABNTX	0.83		0.89	0.8	0.82	0.81	0.78	ABNTX
TTRBX	0.95	0.89		0.91	0.95	0.94	0.94	TTRBX
BBINX	0.95	0.8	0.91		0.93	0.95	0.94	BBINX
GHVIX	0.99	0.82	0.95	0.93		0.99	0.93	GHVIX
ARTFX	1.0	0.81	0.94	0.95	0.99		0.93	ARTFX
RULFX	0.94	0.78	0.94	0.94	0.93	0.93		RULFX
	BXHCX	ABNTX	TTRBX	BBINX	GHVIX	ARTFX	RULFX

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Risk-Adjusted Indicators

There is a big difference between Capital Mutual Fund performing well and Capital World Mutual Fund doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Capital World's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
BXHCX	0.17	0.09	(0.14)	(2.18)	0.00	(0.27)	0.63	(0.13)	1.16
ABNTX	0.15	0.02	(0.36)	(13.40)	0.06	(0.19)	0.29	(0.39)	1.39
TTRBX	0.17	0.03	(0.40)	1.22	0.00	(0.22)	0.41	(0.21)	0.92
BBINX	0.16	0.02	(0.26)	0.42	0.19	(0.20)	0.39	(0.20)	2.22
GHVIX	0.22	0.11	(0.08)	(0.66)	0.00	(0.28)	0.64	(0.29)	2.72
ARTFX	0.15	0.09	(0.21)	(2.19)	0.00	(0.25)	0.57	(0.11)	0.92
RULFX	0.05	0.01	(1.03)	2.31	0.00	(0.20)	0.10	(0.10)	0.50

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Capital World Correlations

Capital World Correlation With Market

Significant diversification

Moving together with Capital Mutual Fund

Related Correlations Analysis

Risk-Adjusted Indicators

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